Commonwealth Games trade program delivering $500m to business
The 2018 Commonwealth Games are expected to deliver an almost $500 million business win for Queensland.
New research released by the Queensland Government shows strong intent by overseas delegates who participated in the Commonwealth Games trade and investment program run in parallel with last year’s Games to do more business here.
RDA Brisbane led the participation of the Queensland RDAs in the Games trade program, with the Queensland and Commonwealth Collaboration and Showcase project to showcase Queensland’s regions’ key and emerging industries and investment opportunities.
This included a full-day event targeted at economic development professionals, Trade2018 delegates and organisations supporting trade and investment business for Commonwealth markets. Associated resources were also developed: a Queensland regional prospectus Queensland’s Regions Trading Globally and the online Queensland Trade Collaboration Portal.
The Trade 2018 Evaluation Report has been published here and the Queensland and Commonwealth Collaboration and Showcase is referenced throughout.
The Report reveals almost two-thirds of the 350 international attendees say they are likely or extremely likely to increase their direct investment here or buy more of our exports.
“Over the next nine years, we expect the Games will generate around $480 million in direct foreign expenditure for Queensland,” Tourism Industry Development Minister Kate Jones said.
“The Games trade program helped us to grow our connections with some of our closest trading partners.”
The Report shows that 82% of the total 1800 Australian and international delegates said the Trade program improved their perception of Queensland as a place to do business, and 80% of delegates reported improved capability to expand their business in Australia. Importantly, more than a third of the Australian attendees said they were likely or extremely likely to secure export or investment deals.
RDA Brisbane is pleased to have contributed to these results to potentially and significantly boost Queensland’s trade and investment.
